Greenbriar Equity Group acquires Dynamex, a delivery and logistics company

Greenbriar Equity Group LLC has acquired Dynamex Inc, a Texas-based company that provides same-day delivery and logistics services in Canada and the US.

The transaction is valued at approximately US$210 million and was unanimously approved by the Dynamex board of directors.

Greenbriar is a transportation and logistics-focused private equity firm with US$1.5 billion of capital under management.

Under the agreement and plan of merger, each then outstanding share of Dynamex will be converted into the right to receive US$21.25 per share in cash.

The merger consideration represents a premium of approximately 39.3 percent over the September 30, 2010 closing price of Dynamex and a 58.4 per cent premium over the average closing price for the 30 trading days prior to October 1, 2010.

Following completion of the proposed transaction, Dynamex will no longer trade publicly and will be wholly owned by affiliates of Greenbriar.